SBI Salary Bank Accounts: Zero Balance, Free Services You Get

SBI account holders under the Corporate Salary Package scheme are not required to maintain monthly average balance.

SBI or State Bank of India offers zero balance salary accounts to individuals working in companies and institutions including hotels, hospitals and transport corporations. Under its Corporate Salary Package scheme, SBI offers a variety of benefits to salary account holders such as an overdraft facility up to two months of salary. This was said on microblogging site Twitter by India’s largest bank SBI. Some of the other features that come with Corporate Salary Package accounts include nil salary disbursement charges, centralised online salary administration and insurance – accidental and health – covers, SBI – which merged its operations with six other banks last month – further said.

Under the scheme, SBI offers salary accounts in four variants – silver, gold, diamond and platinum – depending on the gross monthly income of employees, SBI said.

Customers of SBI accounts under the Corporate Salary Package scheme are not required to maintain monthly average balance, unlike its savings bank accounts which attract penalty in case of non-compliance.